10/25/2010

Companies that got government bailouts contributing big to politicians

Companies that received federal bailout money, including some that still owe money to the government, are giving to political candidates with vigor. Among companies with PACs, the 23 that received $1 billion or more in federal money through the Troubled Assets Relief Program gave a total of $1.4 million to candidates in September, up from $466,000 the month before.

Most of those donations are going to Republican candidates, although the TARP program was approved primarily with Democratic support. President Obama expanded it to cover GM and other automakers.

In our over-regulated economy, in which political contributions are essential to obtaining help from powerful politicians to navigate the existing legal maze and to stave off future impositions, it's hardly surprising that the more deeply enmeshed corporations become in government largess, the more incentive they have to pay the piper. With the GOP poised for big gains, it's hardly surprising that these companies are more worried about paying off their future masters than past benefactors.

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Companies that received federal bailout money, including some that still owe money to the government, are giving to political candidates with vigor. Among companies with PACs, the 23 that received $1 billion or more in federal money through the Troubled Assets Relief Program gave a total of $1.4 million to candidates in September, up from $466,000 the month before.

Most of those donations are going to Republican candidates, although the TARP program was approved primarily with Democratic support. President Obama expanded it to cover GM and other automakers.

In our over-regulated economy, in which political contributions are essential to obtaining help from powerful politicians to navigate the existing legal maze and to stave off future impositions, it's hardly surprising that the more deeply enmeshed corporations become in government largess, the more incentive they have to pay the piper. With the GOP poised for big gains, it's hardly surprising that these companies are more worried about paying off their future masters than past benefactors.